How big is the Usage-Based Insurance Market?

The Usage-Based Insurance Market size is expected to reach USD 39.12 billion in 2024 and grow at a CAGR of 11.34% to reach USD 66.94 billion by 2029. Read More

What is the current Usage-Based Insurance Market size?

In 2024, the Usage-Based Insurance Market size is expected to reach USD 39.12 billion. Read More

Who are the key players in Usage-Based Insurance Market?

Progressive Corporation, Allstate Corporation, Statefarm Insurance, Liberty Mutual Insurance and Aviva plc are the major companies operating in the Usage-Based Insurance Market. Read More

Which is the fastest growing region in Usage-Based Insurance Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029). Read More

Which region has the biggest share in Usage-Based Insurance Market?

In 2024, the North America accounts for the largest market share in Usage-Based Insurance Market. Read More

What years does this Usage-Based Insurance Market cover, and what was the market size in 2023?

In 2023, the Usage-Based Insurance Market size was estimated at USD 34.68 billion. The report covers the Usage-Based Insurance Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Usage-Based Insurance Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

Usage-Based Insurance (UBI) Market Size & Share Analysis - Industry Research Report

Usage-Based Insurance (UBI) Market Size & Share Analysis - Growth Trends & Forecasts (2024-2029)

The Usage-Based Insurance (UBI) Market Report is Segmented by Package (Pay-How-You-Drive and Pay-As-You-Drive), by Technology (OBD-II, Smartphone, Black Box, and Embedded Telematics), by Vehicle Type (Passenger Vehicle and Commercial Vehicle), and by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East). The Report Offers Market Size and Forecasts for the Usage-Based Insurance Markets in Terms of Revenue (USD) for all the Above Segments.

Usage-Based Insurance (UBI) Industry Overview

The Usage-based insurance market is fragmented, with many players. Some of the major players in the global market include Progressive Corporation, Allstate Corporation, Statefarm Insurance, Liberty Mutual Insurance, and Aviva PLC, among others. In the study period, market players were also involved in mergers and acquisitions, and partnerships focused on expanding their presence in the market. The market presents opportunities for growth during the forecast period, which is expected to drive the market competition further. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.